Impinj (NASDAQ:PI) PT Raised to $245.00

Impinj (NASDAQ:PI) had its price objective raised by Needham & Company LLC from $195.00 to $245.00 in a report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also recently commented on PI. Roth Mkm increased their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI increased their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler restated an “overweight” rating and set a $225.00 target price (up from $180.00) on shares of Impinj in a research note on Friday, September 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Finally, Susquehanna upped their target price on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average price target of $224.60.

Impinj Price Performance

Shares of PI opened at $200.70 on Thursday. The firm has a market capitalization of $5.64 billion, a PE ratio of 692.07 and a beta of 1.80. The company’s fifty day moving average price is $196.40 and its 200-day moving average price is $169.26. Impinj has a 1-year low of $58.56 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the previous year, the business posted ($0.36) EPS. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. As a group, research analysts anticipate that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, CRO Jeffrey Dossett sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the transaction, the executive now directly owns 63,642 shares in the company, valued at approximately $10,043,344.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Cathal G. Phelan sold 677 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total transaction of $109,985.42. Following the completion of the transaction, the insider now directly owns 17,367 shares in the company, valued at $2,821,442.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the sale, the executive now directly owns 63,642 shares in the company, valued at approximately $10,043,344.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,779 shares of company stock worth $3,825,046. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the 1st quarter worth $32,000. SouthState Corp acquired a new stake in Impinj during the 2nd quarter worth about $94,000. nVerses Capital LLC lifted its stake in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after buying an additional 549 shares during the period. Finally, USA Financial Formulas increased its position in shares of Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after acquiring an additional 296 shares in the last quarter.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.